Intuitive Surgical reported strong first-quarter results driven by robust growth in procedures and system placements, particularly for its newer da Vinci 5 systems. The company demonstrated significant revenue and non-GAAP net income growth year-over-year, reflecting expanding adoption of its robotic-assisted surgery platforms.
Worldwide procedures grew approximately 17% year-over-year, with da Vinci procedures up 16% and Ion procedures up 39%.
positiveDa Vinci surgical system placements increased to 431 units, up from 367 in the prior year, with a significant portion (232 units) being the newer da Vinci 5 systems.
positiveRevenue increased 23% year-over-year to $2.77 billion, driven by procedure volume, system placements, and installed base growth.
positiveNon-GAAP diluted EPS grew significantly to $2.50, up from $1.81 in the prior year's quarter.
positiveThe company repurchased 2.3 million shares for $1.1 billion, indicating capital return to shareholders.
positiveInventory levels increased to $1.95 billion from $1.84 billion at the end of the prior quarter, a sequential increase of approximately 6%.
attentionThe company's 2026 outlook for non-GAAP gross profit margin includes an estimated impact from tariffs of 1.0% of revenue, with potential for material adverse impact if additional tariffs are implemented.
attentionOperating expenses grew 11% to 14% in 2026 outlook, potentially outpacing revenue growth if not managed effectively.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Instruments and accessories | N/A | — | — | — |
Systems | N/A | — | — | — |
Services | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Pleased with company performance this quarter, marked by expanded adoption of our da Vinci, Ion, and digital platforms.
Deeply committed to supporting customers globally in their pursuit of the quintuple aim: achieving better patient outcomes, improving patient and care team experiences, lowering the total cost to treat, and expanding access to high quality, minimally invasive care.
The Company expects worldwide da Vinci procedure growth of approximately 13.5% to 15.5% in 2026.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.